**Provident Acquires Alpharetta Warehouse for $40.2M**
Provident Advisors has acquired a 252,000-square-foot warehouse in Alpharetta, Georgia, for $40.2 million. The property, located at 3000 Marconi Drive, was sold by JDM Partners, with Newmark’s Casey Keitchen and Collin BeVier representing the seller. JDM originally acquired the asset in 2015. The warehouse, which was delivered in 1995, is fully leased to State Farm through 2030.
The facility functions as one of State Farm’s two national printing and imaging centers and benefits from a robust infrastructure, including 10 megawatts of available power.
Commenting on the strategic potential of the property, Newmark’s Casey Keitchen noted, “If the current tenant were to vacate, the buyer sees a clear path to repositioning this asset as a co-location data center due to its significant power capacity, fiber connectivity, and favorable demand drivers.”
This transaction follows Newmark’s earlier arrangement of the sale of the property’s sister asset located in Irving, Texas.
In related industry news, Connect Apartments will be hosting a major event on September 11, focused on trends in capital markets, financing, development, acquisitions, and property management strategies. The event offers insights into affordability, innovation, market dynamics, and investment opportunities in the multifamily sector.
For more information, visit www.connectapts2025.com.
